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Nigeria’s economy sustained its slow climb out of stagnation during the first quarter of the year. Data released by the National Bureau of Statistics showed real gross domestic product expanded by 3.89 per cent year-on-year. This performance marks an improvement on the 3.13 per cent growth recorded during the same period last year. However, the…
The African Development Bank has warned that the continent’s trade finance deficit could reach an unprecedented $86.6 billion next year. Bank executives released the sobering projections during an international financial forum, highlighting a widening chasm that threatens regional economic integration. The expanding shortfall stems from global banking institutions aggressively scaling back their operations across emerging…
The Federal Government of Nigeria missed its third-quarter 2025 oil revenue target by a staggering N7.88 trillion, highlighting the state’s chronic fiscal vulnerabilities. Data from the National Bureau of Statistics and the Budget Office reveal that gross oil receipts reached only N3.22 trillion against a quarterly projection of N11.10 trillion. While the figure represents a…
The Central Bank of Nigeria has abruptly halted its monetary easing cycle, frozen by an unexpected resurgence of global and domestic price pressures. The Monetary Policy Committee voted unanimously to maintain the benchmark interest rate at 26.5 per cent, defying previous expectations of progressive rate cuts. Central bank officials chose this cautious hold to protect…
Nigeria’s economy expanded by 3.89 per cent in real terms during the first quarter of the year, driven by a sharp rebound in agricultural output and sustained momentum in the services sector. Fresh data released on Monday by the National Bureau of Statistics shows a notable acceleration from the 3.13 per cent growth recorded during…
Foreign capital importation into Nigeria jumped by 182 per cent month-on-month to reach $3.37bn in January. The Central Bank of Nigeria disclosed the sharp increase in its latest monthly economic report, contrasting the data with the $1.25bn recorded last December. Aggressive monetary tightening and attractive local yields motivated the sudden influx of international cash. However,…
The Nigerian Exchange extended its bearish run as profit-taking in the industrial and insurance sectors dragged performance indicators lower. The All-Share Index dropped by twenty-five basis points to close a subdued trading session. Institutional investors led the retreat by liquidating positions in recently appreciated mid-cap equities. The downturn mirrors growing caution on Broad Street as…
The Nigerian Association of Liquefied Petroleum Gas Marketers raised the alarm on Monday over a severe supply squeeze that pushed retail cooking gas prices above N1,500 per kilogramme. The commodity recently traded under N1,000 before worsening depot bottlenecks disrupted the domestic supply chain. Depot operators have hiked bulk pricing to between N25.2 million and N26.2…
The Federal Government expects a thorough revision of the National Telecommunications Policy to bring in N1.6 trillion in tax revenue and create two million new jobs by 2028. The Nigerian Communications Commission unveiled the targets during an industry stakeholder workshop in Lagos. Executive Vice Chairman of the commission, Dr Aminu Maida, noted that deeper sectoral…
The African Development Bank Group has approved a 200 million dollar financing facility for the Bank of Industry to support private sector productivity across Nigeria. The sovereign-guaranteed loan provides medium- and long-term capital for local enterprises looking to expand operations. The credit injection targets critical domestic sectors, including transport infrastructure, agro-food processing, pharmaceuticals, and green…
